Ukraine: Sugar Annual
1st June 2023
MY2023/24 sugar production is forecast at 1.5 MMT, a 13 percent increase compared to the previous MY estimate, as Ukraine returns to pre-war (CY2021) production areas of sugar beets.
A hike in global prices could stimulate Ukraine's exports for MY2023/24 to recoup losses caused by Russia's full-scale invasion and a drop in domestic consumption caused by refugee outflow. The EU is becoming the single largest market destination for Ukrainian sugar.
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